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Vivien Yap, Principal of Ray White Dalkeith | Claremont and Western Australia's top real estate agent, outlined the intense competition and strategic imperatives currently defining Perth's property landscape.
The Perth market remains extraordinarily competitive, and properties are routinely attracting up to 10 offers depending on the price bracket.
Ms Yap described the current market as "very hard to navigate" due to overwhelming demand and limited stock, leading to significant competition where buyers are increasingly missing out on properties.
Ms Yap stressed that being a successful real estate agent in this market was not about being a "one-hit wonder" but about caring for the client's future.
To secure optimal results in this high-stakes environment, Ray White Dalkeith | Claremont is increasingly using the auction process and special clauses in contracts, including rent-back agreements and conditional offers, to protect both buyers and sellers from the pressures of extreme competition.
Nerida Conisbee, Chief Economist for the Ray White Group, said the Perth property market remained Australia's strongest for price growth, a trend now being significantly re-accelerated by recent interest rate cuts, strong population growth, and a profound lack of housing supply.
House prices in Perth have increased 13.2 per cent over the past 12 months, with the median property price having almost doubled over the past five years.
Despite an ambitious national target to build 1.2 million homes over five years, Australia has only constructed around 180,000 homes annually against a required 225,000. In Western Australia specifically, construction costs continue to increase at approximately 10 per cent per annum, further constraining supply and diverting demand to the established market.
"Perth's property market is in a unique and challenging phase," Ms Conisbee told the guests.
"It is a seller's market being aggressively driven by a lack of listings and positive sentiment from interest rate cuts. However, the long-term affordability crisis, fueled by national undersupply and persistent, high local construction costs means that the dream of a new home is becoming increasingly out of reach for many."
Ms Conisbee said Perth's strong price growth would likely continue without a major uplift in housing supply. The building industry is focusing on modern construction methods and addressing labour shortages to accelerate building timelines, which has blown out to 10 months in Perth.
For homeowners navigating this market, the key remained clear: strategic planning, financial readiness, and careful consideration of timing are essential to achieving optimal outcomes.
To navigate the high-stakes environment and secure the best result for sellers, Ms Yap's team is employing strategic sales techniques, prioritising a comprehensive approach over quick sales.
Ray White Group Managing Director Dan White said Ray White Dalkeith | Claremont was regarded for its commitment to excellence.
He praised its leader Vivien Yap for consistently showing such care and attention to detail for her clients plus her team's work ethic and commitment.
He said that while the market presents exceptional opportunities for property owners, the broader affordability crisis has created a growing homelessness crisis. Despite construction targets, many new homes remain financially out of reach for many families, renters, and vulnerable community members.
"This is a big issue that's only getting more difficult," Mr White said. "While government initiatives are important, it will take community action and support to address the challenge of homelessness and housing insecurity."
The evening's fundraising component directly supported Home for Homes, a charity working to provide accommodation and support services for vulnerable people facing homelessness across Western Australia.
The event raised almost $50,000 for the social enterprise created by The Big Issue, which operates on a simple promise: when a home sells, 0.1 per cent of the sale price will be donated to help build homes for those in need. Homeowners register their property, and the organisation adds a caveat or administrative advice to the property title as a reminder of the donation promise. When the property is eventually sold, a tax-deductible donation of 0.1 per cent of the sale price is made to Homes for Homes.
Homes for Homes represents an innovative approach to addressing Australia's homelessness crisis by leveraging the property sector's involvement through manageable, voluntary contributions at the point of sale.
